Barclays PLC Boosts Holdings in Sun Life Financial Inc. (NYSE:SLF)

Barclays PLC raised its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 61.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,907 shares of the financial services provider’s stock after acquiring an additional 2,244 shares during the quarter. Barclays PLC’s holdings in Sun Life Financial were worth $343,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of SLF. Mackenzie Financial Corp grew its holdings in Sun Life Financial by 2.9% during the second quarter. Mackenzie Financial Corp now owns 14,703,533 shares of the financial services provider’s stock valued at $721,042,000 after purchasing an additional 407,913 shares during the period. 1832 Asset Management L.P. lifted its position in shares of Sun Life Financial by 5.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 10,216,206 shares of the financial services provider’s stock valued at $500,492,000 after buying an additional 499,009 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Sun Life Financial by 7.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider’s stock worth $537,288,000 after acquiring an additional 654,404 shares during the period. Toronto Dominion Bank increased its holdings in Sun Life Financial by 5.0% in the 2nd quarter. Toronto Dominion Bank now owns 6,975,205 shares of the financial services provider’s stock worth $341,715,000 after acquiring an additional 332,641 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in Sun Life Financial by 1.3% in the 3rd quarter. CIBC Asset Management Inc now owns 6,488,668 shares of the financial services provider’s stock valued at $377,311,000 after acquiring an additional 81,261 shares during the period. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Price Performance

Shares of NYSE:SLF opened at $58.83 on Monday. The firm has a fifty day moving average price of $59.95 and a two-hundred day moving average price of $56.01. The company has a market cap of $33.85 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 1.53 and a beta of 1.03. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $62.85.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th were given a dividend of $0.621 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. This represents a $2.48 annualized dividend and a yield of 4.22%. Sun Life Financial’s payout ratio is presently 57.46%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. National Bank Financial upgraded shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 15th. StockNews.com cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Sun Life Financial presently has an average rating of “Moderate Buy”.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.